FBI: bank impersonators fuel $262M surge in account takeover fraud

The FBI has reported a significant increase in account takeover fraud, with criminals impersonating banks and stealing over $262 million since January 2025. The Internet Crime Complaint Center (IC3) has received over 5,100 complaints from individuals and organizations across various sectors. Cybercriminals use social engineering tactics, such as phishing through texts, calls, and emails, to trick victims into providing sensitive information.

They often create fake financial websites to capture login credentials, leading to unauthorized access and rapid fund transfers to criminal-controlled accounts. The FBI advises victims to contact their financial institutions immediately, reset passwords, and report incidents to the IC3. They also recommend notifying the impersonated institution and staying informed about ATO trends.